“Bed Bath & Beyond reports 28% drop in sales as it presses ahead with turnaround plan”
September 29, 2022
“Bed Bath & Beyond on Thursday said sales plunged by 28% in the fiscal second quarter, as the home goods retailer struggled to draw customers…
Bed Bath reiterated its full-year outlook, saying it anticipates comparable sales to decline by about 20% as its business improves in the back half of the fiscal year.
Here’s how the retailer did in the three-month period ended Aug. 27 compared with what analysts were anticipating, based on Refinitiv data:
- Loss per share: $3.22 adjusted vs. $1.85 expected
- Revenue: $1.44 billion vs. $1.47 billion expected
The company’s net loss widened significantly to $366 million, or $4.59 per share, from $73 million, or 72 cents per share, a year earlier. Its net sales dropped from $1.99 billion in the year-ago period…”
https://www.cnbc.com/2022/09/29/bed-bath-beyond-bbby-q2-2022-earnings.html